Plan Participants Failed To Prove Defendants Were Performing Fiduciary Functions

(September 27, 2017, 10:07 AM EDT) -- BOSTON — A Massachusetts federal judge on Sept. 22 granted a motion to dismiss for failure to state a claim filed by an employee pension benefit plan’s trustee and the plan’s servicer after determining that the plan participants failed to prove that the defendants were exercising a fiduciary function under the Employee Retirement Income and Security Act when they decided which securities to make available through the plan’s self-service portal (Katherine Fleming, et al. v. Fidelity Management Trust Company, et al., No. 16-10918, D. Mass., 2017 U.S. Dist. LEXIS 155222)....

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